Social Security to Reinstate Overpayment Recovery Rate

The Social Security Administration (SSA) announced it will increase the default overpayment withholding rate to 100% of a beneficiary’s monthly payment, reversing a previous reduction to 10%. This change, expected to save $7 billion over a decade, applies to new overpayments after March 27, while existing overpayments remain unaffected. Beneficiaries unable to afford full withholding can request a lower rate, appeal the decision, or seek a waiver. The SSA emphasizes its responsibility to safeguard taxpayer funds and ensure accurate payments.

You can read the full article here: https://blog.ssa.gov/social-security-to-reinstate-overpayment-recovery-rate/